Why Can’t I Get a Loan?

October 28th, 2010 by | Print

 

I hope you enjoyed my recent two-part interview with Joseph Lizio from Business Money Today discussing the current state of funding a small business and some of the critical issues you need to consider when applying for a small business loan.


As a follow up, Joseph turned my on to a good article on Entrepreneur.com, “Numbers That Matter” by Kate Lister.


I’ve had more than one solopreneur come back and say, “the bank turned down my loan and I don’t really know why.” This article helps answer some of those questions by giving you the inside scoop as to how the bank really looks at your business plan. Hopefully, you get to read this article before you apply for a loan.


And if the bank still turns you down for a loan, don’t despair … there are other possible options outside of banks.


I recommend you check out Business Money Today. The site gives easy to understand guidance in a user-friendly format for finding the funding options that are best for you based upon what stage your business is in and what you need the loan for.


If one of your obstacles is developing a business plan, contact me. I can help.


All the Best,


Doug Dolan
The Solopreneur’s Guide

Share

One Response to “Why Can’t I Get a Loan?”

  1. OnBlur Says:

    Before seeking any type of business financing – make sure you know two things (two things that many new business owners fail to calculate before approaching a lender) – how much you are seeking and what – specifically – those funds will be used for (e.g. 1/3 for equipment, 1/3 for inventory, 1/3 for marketing).
    This will help in too many ways to explain here.
    If you don’t know how much you need or specifically what those funds will be used for – then this is where a business plan comes into play and “thesologuide” can help with that – making it quick and easy so that you can start moving forward.

Leave a Reply

Security Code: